Big Data Analytics Platform

Transcription

1 Innovation Winners Create Situational Awareness with Big Data Analytics Platform Innovation hurts. It s messy. And if not managed right, it can be very expensive. That s why CIMS believes the winning firms will be those that put a premium on acquiring timely and relevant market/business intelligence to guide their 24/7 decision making. It s what we call situational awareness. Coupled with the power of predictive analytics and the new Big Data Analytics Platform I describe here, it will put knowledge of impending market shifts, emerging competitors, as well as potential partners, into the hands of every businessfunction manager. This, in turn, will empower them to make the right business decisions. Here s how: CIMS believes that innovation is best led by market-savvy business-function managers working through aligned and empowered cross-functional teams. However, no matter how talented and experienced these managers are, they face a daunting challenge because of the speed and volume of data being created every day on the planet in the form of web pages, blogs, wikis, and so forth. Figure 1 Big data requires big storage. Expect 20-plus terabytes (10 9 ) of storage today to grow exponentially in the future. We estimate that over 15 petabytes (10 15 ) of data are being added to the worldwide web daily. Furthermore, 80% of this new data growth is unstructured content, i.e. , blogs, web pages, white papers, images, video and audio. In fact, the Internet is now estimated to contain over 1.2 zettabytes (10 21 ) of data. That s roughly 60 million Libraries of Congress! The challenge, therefore, becomes separating appropriate business signals from the petabytes of noise generated, both inside and outside the organization. 1

2 Situational Awareness Is Key For the past two years, CIMS researchers have worked to demonstrate that situational awareness on this scale, is not only feasible, but when embedded in a culture of innovation, it can be the source of competitive advantage. Advances made at NC State University in cloud computing, along with advanced text analytics tools supplied by IBM, now make widespread implementation of this type of business decision-making feasible. To prove this new method of business intelligence is generic and can be applied successfully in any business or R&D activity, we and our partners (IBM Software Group and the Department of Computer Science) are developing and testing an industry-standard Big Data Analytics Platform (BDAP TM ) 1 across an array of strategic business issues. BDAP defined The BDAP platform embraces four major components: I. Cloud computing environment II. IBM Analytics Software III. Business Process (gathering, filtering, annotating, and displaying massive amounts of data) IV. Resulting Meta Data File (MDF) The cloud computing environment is hosted by the Virtual Computing Lab (VCL) at NC State University. NC State s Department of Computer Science has been a pioneer in cloud computing since 2004 (see Chasing Smarter Clouds: CIMS Technology Management Report Winter , p.1 In the VCL, we use two cloud configurations, one that serves our students and faculty, the other a sub-cloud called the High Performance Computing Center (HPCC) where we perform our crawls and annotate the data (see figure 1). In the HPCC we have specialized processors with lots of local memory for each processor. This is essential for mashing up and annotating millions of records at any one time. As you can see in Figure 1 big data analytics requires lots of storage - 20 plus terabytes today and, with the help of the major storage equipment suppliers, exponentially more in the future. Analytics Software IBM provides the software platform shown in Figure 2. It is based on natural language processing of free form text and is the same set of programs that delighted Jeopardy fans when Watson easily beat the two all-time champions! Of course, we are not interested in the same categories of information that challenges TV audiences. We scan the web looking for things like the formation of new ventures, the completion (or failure) of a clinical trial, new laws and regulations, federal grant solicitations, even consumer sentiment regarding a 1 Trademark is pending the completion and approval of NCSU application by USPTO. 2

3 product or a service gathered from Facebook and LinkedIn. From this we can piece together a powerful mosaic for a company. For instance, we have been able to identify a potential business partner for a leading biotechnology organization by analyzing over 400 websites, 9.5 million web pages, and 4.5 terabytes of data. Our Business Process This brings me to the third, and perhaps most critical component of the BDAP, the business process to create and use big data. Next to each of the software elements in Figure 2 are the major activities associated with each step in the process. Also shown are the resources required by each activity. The BDAP process is CIMS main contribution. Moving business to think beyond the data associated with internal enterprise resource planning (ERP) software tools and structured database analysis requires a change in the way one mines data. Understanding how to ask business questions properly is of paramount importance when dealing with big data. This will require individuals to look beyond standard statistical Figure 2 - Moving business to think beyond the data associated with internal software tools and structured database analysis requires a change in the way one mines data. approaches and begin to explore other aspects of stakeholder information such as social networks, unstructured data sources, as well as internal data sources, knowing that previous limitations based on data type can now be overcome. In fact, all of these data need to be mashed up to yield the fourth component, a larger, and potentially proprietary, Meta Data File that will drive decision-making. Where we are headed The BDAP is not done; in fact we are just starting. At the CIMS Corporate Sponsors Meeting, this past May, IBM announced that they would add their suite of SPSS products onto NC State s VCL which enables us to do predictive analytics. Having a Q & A interface may be fine for Watson, but not for businesses. They want to be in front of their competition and know when market conditions will likely change. For example, product developers are keenly interested in information that signals when populations of consumers are moving from early adoption to more fully adapting a new technology. Identifying this critical 3

4 inflection point, commonly referred to as crossing the chasm, can make all the difference in a company s profitability and brand reputation. Movies Too! Closely linked to predictive analytics will be our pursuit of new visualization techniques. Indeed, we are finding that they are inseparable. Analytics helps create more effective visualization, and visualization assists analytics by allowing users to see the data. For example, by crawling the same websites periodically, say monthly, and only keeping the data that have changed - we can create movies of certain information over time. These patterns are vital for discerning trends and would be impossible using other analytical methods. Learning BDAP In parallel, we are developing BDAP training courses for our MBA and MS students as well as short courses for CIMS member companies. Smart, energetic students are the mainstay of NC State University. We believe in exposing them to the latest management techniques before they go out into industry. CIMS views this as a takeoff of the successful strategy Apple has used to capture the hearts and minds of K-12 students. Graduate students will learn to apply BDAP in companies as part of their practicum projects. And when they go out into business they will demand this new business intelligence capability that they helped to develop. Figure 3 CIMS is helping you build a powerful new capability for your business. What you can do now Similarly, business-function executives must learn how to harness this new capability. Using an action-learning format, they will learn how to apply BDAP to their own organizations. Working with IBM, we have developed a five -step engagement model that allows companies to progressively build proficiency and confidence in big data analytics as they learn to apply it to decisions in their organizations (see Engagement Model in Business Intelligence in the Clouds, on p. 5, TMR Winter We have also developed a set of workshops, in both open and custom configurations, that shows business function executives how to use big data to innovate new business models, products and services. 4

5 Custom Solutions for You If your organization is typical, it is already being bombarded by consultants, data aggregators, and commercial software tool vendors who claim to do the same thing. Don t be fooled by these comparisons, which are shown in Figure 3. CIMS is not selling a tool-- we are building an entire platform that allows you to build a Meta Data File that is customized to your business needs. It is one where: 1) you ensure the quality of data by selecting just those URLs you have determined to be reliable and credible, 2) you meld the web-based information with your firm s internal operational data files, and 3) you annotate and display the data in a way that supports your specific business processes and analytical needs. BDAP will provide clarity to an organization s decision making. As importantly, it will create a new situational awareness that will align your workforce and accelerate innovation. If you believe your organization would benefit from having such an information advantage, or if you just have questions about any of the topics addressed in this article, please don t hesitate to me at ncsu.edu. 5

IBM Software Business Analytics Social Analytics Social Business Analytics Gaining business value from social media 2 Social Business Analytics Contents 2 Overview 3 Analytics as a competitive advantage

9 8 TRENDS IN THE DEVELOPMENT OF BUSINESS INTELLIGENCE SYSTEMS Assist. Prof. Latinka Todoranova Econ Lit C 810 Information technology is a highly dynamic field of research. As part of it, business intelligence

Beyond listening Driving better decisions with business intelligence from social sources From insight to action with IBM Social Media Analytics State of the Union Opinions prevail on the Internet Social

WHITE PAPER Turning Insight Into Action The Journey to Social Media Intelligence Turning Insight Into Action The Journey to Social Media Intelligence From Data to Decisions Social media generates an enormous

EXECUTIVE SUMMARY Big Data is not an uncommon term in the technology industry anymore. It s of big interest to many leading IT providers and archiving companies. But what is Big Data? While many have formed

BANKING 3.0 UNLEASH THE POWER OF YOUR DATA BUSINESS INTELLIGENCE ANALYTICS CDW FINANCIAL SERVICES 66% of banking and capital markets executives have changed the way they approach big decision-making as

www.wipro.com IN CONVERSATION WITH BILL FEARNLEY, JR. Senior Analyst, Securities & Investments, Celent Social, Mobile, Analytics and Cloud (SMAC) has been one of the buzzwords across the IT industry. In

THE STATE OF Social Media Analytics May 2016 Getting to Know You: How Leading Marketers Are Using Social Media Analytics» Marketers are expanding their use of advanced social media analytics and combining

Big Data Analytics Assessing the Revolution in Big Data and Business Analytics Research Report Executive Summary Sponsored by Copyright Ventana Research 2013 Do Not Redistribute Without Permission Sponsor

IBM Executive Point of View: Transform your business with IBM Cloud Applications Businesses around the world are reinventing themselves to remain competitive in a time when disruption is the new normal.

Digital Asset the way we see it Digital Asset Delivering greater value from your assets by using better asset information to improve investment decisions In its recent survey on the UK economy, the OECD

IBM Analyze social media data to improve business outcomes Highlights Grow your business by understanding consumer sentiment and optimizing marketing campaigns. Make better decisions and strategies across

Businesses recognize that their most valuable resource is the people. With the demand for skilled talent continuously growing, it s a competitive necessity to have the best processes in place to attract,

FALL 2012 VOL.54 NO.1 Thomas H. Davenport, Paul Barth and Randy Bean How Big Data is Different Brought to you by Please note that gray areas reflect artwork that has been intentionally removed. The substantive

WHITE PAPER MULTI-CHANNEL CAMPAIGNS IN A CONNECTED WORLD White paper - Multi-Channel Campaigns in a Connected World - Prodware 1 Create and deploy IT solutions for business Navigating Multi-channel Marketing

Why is BIG Data Important? March 2012 1 Why is BIG Data Important? A Navint Partners White Paper May 2012 Why is BIG Data Important? March 2012 2 What is Big Data? Big data is a term that refers to data

YMCA of San Diego County ONLINE MARKETING AND MEDIA PLAN 2009 DRAFT The Online Marketing and Media plan encompasses all present & future YMCA of San Diego County online properties including the ymca.org

Hadoop for Enterprises: Overcoming the Major Challenges Introduction to Big Data Big Data are information assets that are high volume, velocity, and variety. Big Data demands cost-effective, innovative

SOCIAL MEDIA LISTENING AND ANALYSIS Spring 2014 EXECUTIVE SUMMARY In this digital age, social media has quickly become one of the most important communication channels. The shift to online conversation

Are You Ready for Big Data? Jim Gallo National Director, Business Analytics February 11, 2013 Agenda What is Big Data? How do you leverage Big Data in your company? How do you prepare for a Big Data initiative?

Enhancing productivity, enabling Success. Sage CRM Customer Relationship Management Customer Relationship Management (CRM) is far more than just a software application. It is a business solution that gives

HOW TO FIND, MANAGE AND CLOSE MORE BUSINESS USING THE SOCIAL MEDIA 2-Day Training Use social media to get more sales leads, increase your pipeline, close faster, improve customer relationships and meet

Microsoft Dynamics NAV for Government Contractors Introduction Small to midsize companies that do business with the federal government have unique challenges not typically faced by companies that exclusively

Beyond Watson: The Business Implications of Big Data Shankar Venkataraman IBM Program Director, STSM, Big Data August 10, 2011 The World is Changing and Becoming More INSTRUMENTED INTERCONNECTED INTELLIGENT

Optimising talent management through technology Choosing the right solution to enable your talent management strategy and support the entire employee lifecycle. Selection Guide What are you doing to keep

April 2015 KEEPING UP WITH THE UPSTARTS 10 Benefits of the Connected Financial Services Ecosystem Let s face it we ve entered the Age of the Customer. Thanks to tech giants and their customer delight mantras,

SPAN White Paper Analytics Turning information into insights In today s business scenario, is defining a whole lot of organizational operations; it is not only a tool to assist a business strategy, but

A financial software company Projecting USD10 million revenue lift with the IBM Netezza data warehouse appliance Overview The need A financial software company sought to analyze customer engagements to

Privilege Gone Wild: The State of Privileged Account Management in 2015 March 2015 1 Table of Contents... 4 Survey Results... 5 1. Risk is Recognized, and Control is Viewed as a Cross-Functional Need...

SAP Hybris Solution Overview: SAP Hybris Cloud for Customer ACHIEVE DIGITAL TRANSFORMATION WITH SALES AND SERVICE SOLUTIONS The Digital customer requires companies to be one step ahead of them, be better

Corporate360 is a leading IT sales intelligence provider. The company's flagship product Tech SalesCloud is a cloud software, designed for IT marketers to avail comprehensive marketing campaign data services.

Big Data Analytics Assessing the Revolution in Big Data and Business Analytics 10 Best Practice Recommendations Sponsored by Copyright Ventana Research 2013 Do Not Redistribute Without Permission February

Whitepaper LET S TALK: Social Media ROI With Connie Bensen First Priority for a Social Media Strategy: A Brand Audit Using a Social Media Monitoring Tool 4th in the Social Media ROI Series Executive Summary:

CUSTOMER SERVICE MEETS SOCIAL MEDIA: BEST PRACTICES FOR ENGAGEMENT 2009 RightNow Technologies. All rights reserved. RightNow and RightNow logo are trademarks of RightNow Technologies Inc. All other trademarks

L S A MARKETING MARKETING Give Your Business A Social Media LIFT Disclaimer This White Paper was created by L. Stern & Associates for the purpose of helping organizations obtain a LIFT through effective

IBM Content Analytics with Enterprise Search, Version 3.0 Highlights Enables greater accuracy and control over information with sophisticated natural language processing capabilities to deliver the right

Pulsar TRAC Big Social Data for Research Made by Face PULSAR TRAC is an advanced social intelligence platform designed for researchers and planners by researchers and planners. We have developed a robust

White Paper What the ideal cloud-based web security service should provide A White Paper by Bloor Research Author : Fran Howarth Publish date : February 2010 The components required of an effective web

THE NEW ERA OF ABOUT THE AUTHOR Paul Rogers is the Head of Customer Experience and CRM within HCL s Applications Division. Based in London, Paul is responsible for leading HCL s CRM consulting and technology

Enhancing Productivity. Enabling Success. Sage CRM Customer Relationship Management Customer Relationship Management (CRM) is far more than just a software application. It is a business solution that gives

A brief introduction on SharePoint Raizel Consulting 11/09/2007 SharePoint is an enterprise information portal, from Microsoft, that can be configured to run Intranet, Extranet and Internet sites. SharePoint

Big Data + Predictive Analytics = Actionable Business Insights: Consider Big Data as the Most Important Thing for Business since the Internet Adapted from the forthcoming book, Business Innovation in the

International Journal of Advances in Engineering Science and Technology 221 Available online at www.ijaestonline.com ISSN: 2319-1120 Big Data Introduction, Importance and Current Perspective of Challenges

Today s chemical companies face extraordinary business challenges, from the massive volatility in raw materials and input costs, to currency fluctuations and a globally competitive marketplace. The selling

8 STEPS TO AN EFFECTIVE CONTENT MARKETING SYSTEM Produced by Katie Wilson Aspire Internet Design www.aspireid.com @aspireid Overview... 2 1: Set Goals and Create a Set of Metrics for Your Content Marketing

Explore the Art of the Possible Discover how your company can create new business value through a co-innovation partnership with SAP Innovate to Differentiate How SAP technology innovations can help your

Privilege Gone Wild: The State of Privileged Account Management in 2015 March 2015 1 Table of Contents... 4 Survey Results... 5 1. Risk is Recognized, and Control is Viewed as a Cross-Functional Need...

INFORMATION TECHNOLOGY TopicalNet, Inc (formerly Continuum Software, Inc.) Building a Database to Predict Customer Needs Since the early 1990s, organizations have used data warehouses and data-mining tools

SAP HANA Data Center Intelligence - Overview Presentation August, 2014 Customer Disclaimer This presentation outlines our general product direction and should not be relied on in making a purchase decision.

5 Keys to Unlocking the Big Data Analytics Puzzle Anurag Tandon Director, Product Marketing March 26, 2014 1 A Little About Us A global footprint. A proven innovator. A leader in enterprise analytics for

2014 Big Data Survey Exclusive Research from EXECUTIVE SUMMARY Big Data Strides Forward Companies place a high priority on their ability to harness data in the service of better business decisions. For